“Strong growth earlier this year should ensure the economy creates jobs at a robust pace into year-end,” economists wrote in a note. “The composition of job gains will provide clues on which sectors will drive hiring in 2019. As the Fed continues to tighten policy, the housing and auto sectors will likely get hit by rising interest rates.”
Economics projects a payroll gain of 240,000 and a 0.2 percent rise in average hourly earnings from the prior month.
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Nonfarm payrolls rose 198,000, according to the median of estimates in Bloomberg’s survey of economists before the Labor Department releases its monthly employment report Friday at 8:30 a.m. in Washington. While that’s well below the 250,000 increase in October, it’s close to the 210,000 average over the past 12 months.
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Economists also project average hourly earnings will post a solid 3.1 percent gain from a year earlier. Such a pace would match October’s increase, which was the fastest since 2009.
